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    Youngster gets relief from ‘ringing sensation’ by rare surgery at MGM Healthcare, Chennai

    Youngster gets relief from ‘ringing sensation’ by rare surgery at MGM Healthcare, Chennai

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    Youngster gets relief from ‘ringing sensation’ by rare surgery at MGM Healthcare, Chennai

    Youngster gets relief from ‘ringing sensation’ by rare surgery at MGM Healthcare, Chennai

    NEW STATE OF THE ART SOLAR FACILITY COMMISSIONED AT LEADING B-SCHOOL GOA INSTITUTE OF MANAGEMENT

    NEW STATE OF THE ART SOLAR FACILITY COMMISSIONED AT LEADING B-SCHOOL GOA INSTITUTE OF MANAGEMENT

    TWENTY DRESSES BY NYKAA FASHION presents its Spring Summer’21 Collection

    TWENTY DRESSES BY NYKAA FASHION presents its Spring Summer’21 Collection

    INYAS launches multipronged nationwide mass awareness campaign to bust myths about Covid 19 vaccination programme

    INYAS launches multipronged nationwide mass awareness campaign to bust myths about Covid 19 vaccination programme

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    India-Netherlands Virtual Summit (April 09, 2021)

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    Four-day curfew must be imposed in Gujarat to break Corona transition chain: HC Chief Justice

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    New Holland celebrates 20 illustrious years of the 3230 tractor

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    SIDBI celebrates 32nd foundation day as Swavalamban Prerna Diwas

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    Pramerica Life Insurance appoints Ms. Kalpana Sampat as the new MD & CEO

    Pramerica Life Insurance appoints Ms. Kalpana Sampat as the new MD & CEO

    Sommet Education and UNWTO host virtual webinar on “Hospitality Education in the Post-COVID World,” announce Indian Winners of the UNWTO Hospitality Challenge

    Sommet Education and UNWTO host virtual webinar on “Hospitality Education in the Post-COVID World,” announce Indian Winners of the UNWTO Hospitality Challenge

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    Greenply launches its new brand campaign ‘E-0 chuno, Khulke Saans Lo’

    Airtel brings premium Education content to its DTH platform

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    View on RBI’s Monetary Policy dated 07.04.2021 – By Shri CH. S. S. Mallikariuna Rao. MD & CEO. PNB

    View on RBI’s Monetary Policy dated 07.04.2021 – By Shri CH. S. S. Mallikariuna Rao. MD & CEO. PNB

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    Acer launches new Nitro 5 with latest AMD Ryzen 5600H series processor for PC gamers in India

    Samsung’s EYELIKE™ Fundus Camera Repurposes Galaxy Smartphones to ImproveAccess to Eye Care

    Samsung’s EYELIKE™ Fundus Camera Repurposes Galaxy Smartphones to ImproveAccess to Eye Care

    realme unveils 3 news budget friendly smartphone in its C series starting from INR 6,799

    realme unveils 3 news budget friendly smartphone in its C series starting from INR 6,799

    Virtually all-party meeting due to epidemic

    Practically Registers 3x Growth After Launch of Its First Brand Campaign, Kickstarting its 1st Anniversary Celebrations

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Sunteck Realty Limited announces Operational Update for Q3FY21

NM by NM
3 months ago
in Economy, Share Market
3 min read
4 0
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Sunteck Realty Limited announces Operational Update for Q3FY21
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  • Pre-sales grows by 75% qoq in Q3 FY21Collections grows by 79% qoq in Q3 FY21High buyer interest witnessed in both completed and newly launched projects

Sunteck Realty Limited (SRL), Mumbai’s premium real estate developer, announced its Q3 and 9M FY20-21 operational updates.

ADVERTISEMENT
Rs cr
Operational DataQ3FY21Q2FY21QoQ %Q3FY20YoY %9MFY219MFY20YoY %
Pre-sales (new bookings)34920075%3257%6506136%
Collections25214179%16652%458540(15%)

SRL saw a robust growth in Pre-sales for Q3 FY21 at Rs 349 crore; it was up by 75% QoQ and by 7% YoY as well. Collections also grew at 79% QoQ to Rs 252 crore for Q3 FY21 and by 52% YoY.

As the operations resume post lockdown, the Company has continued its strong sales momentum, supported by its ready-to-move-in, nearing-ready inventory as well as newly launched projects. With the construction activity returning to pre-COVID levels, the Company remains focused on accelerating the project progress across the portfolio to offset the time lost on account of the ongoing pandemic. SRL recently launched the second tower at SunteckCity 4th Avenue, ODC and received a tremendous response due to its esteemed brand lineage, differentiated product offering in the micro markets and commitment for the superior customer experience.

Commenting on the Q3 FY21 performance, Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd. said: “Our customer-first approach has underpinned our continued strong performance. Our superior product offering coupled with strong customer servicing through out the life-cycle of our patrons has won us the brand loyalty we command in the market today. A combination of favorable factors such as the reduced stamp duty and low interest rates is expediting the home-purchase decision. We are observing a trend of increased demand and renewed buyer interest for high quality products, especially those with strong balance sheet and high brand recall. With project execution ramping up, the collections across our projects has been sequentially growing and we remain confident to maintain this strong trend.” “Given the current socio-economic market dynamics, our continued focus on prudent cash flow management along with low debt ratios and financial flexibility have ensured our balance sheet strength on a sustained basis. We continue to focus on delivery driven by our strong in-house construction capabilities, which in turn will continue to generate sustained cash flows for us. The availability of inventory across our brands and pricing spectrum creates flexibility to offer projects based on needs of various customer segments. We believe, home buyers will continue to look for credible projects of reputed and financially strong real estate developers, as the pedigree of a trusted brand drives the preference for a new home buyer” he added.

Tags: AuditSunteck Realty Limited
NM

NM

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